Patients with serious nervous system injuries or strokes often require lifelong assistance, which burdens patients, their families, and society. Innovative, paradigm shifting strategies are required to develop treatments for neurological injury. Early diagnosis and treatment can prevent complications and permanent injuries. The techniques of nerve repair and regeneration aid to cure the disorders such Alzheimer’s disease, Parkinson disease, and other neurological disorders.
The global nerve repair and regeneration market was valued at $5,927 million in 2016, and is estimated to garner $13,938 million by 2023, registering a CAGR of 13.0% from 2017 to 2023. The major factors that enhance the market growth are increase in geriatric population, rise in incidence of neurological & epidemic disorders, and launch of innovative products for nerve repair & regeneration. However, stringent regulatory requirements delay product approvals, thereby restraining the market growth.
The global nerve repair and regeneration market is segmented on the basis of surgery, product, and geography. Based on surgery, the market is classified into direct neuropathy, nerve grafting, neuromodulation surgery, and stem cell therapy. The neuromodulation surgeries segment contributed the highest share in 2016, owing to increase in patients suffering from neural disorders. Direct neuropathy is categorized into epineural repair, perineural repair, and group fascicular repair. Nerve grafting is subsegmented into autografts, allografts, and xenografts. Nerve modulation surgery is bifurcated into external and internal. By product, the market is divided into biomaterials and neuromodulation surgery devices. Neuromodulation surgery devices contributed the highest share in 2016, owing to the wide range of product offering for nerve repair. Biomaterial is classified into nerve conduits, nerve protectors, nerve wraps, and nerve connectors. Neuromodulation surgery devices is subsegmented into external and internal. External is further segmented into transcutaneous electrical nerve stimulation and transcranial magnetic stimulation. Internal is divided into spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, and others.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North American market accounted for a significant share in 2016, owing to growth in number of patients suffering from neurological disorders.
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SIMILAR MARKET STUDIES
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July 2017 | $5370 | View Details >>
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